Extreme Networks, Inc. (NASDAQ:EXTR) Stock Holdings Boosted by Portolan Capital Management LLC

Portolan Capital Management LLC raised its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 194.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,060,828 shares of the technology company’s stock after purchasing an additional 700,724 shares during the quarter. Extreme Networks comprises 1.2% of Portolan Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Portolan Capital Management LLC owned about 0.80% of Extreme Networks worth $15,944,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Rubric Capital Management LP boosted its stake in shares of Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after acquiring an additional 1,804,744 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Extreme Networks by 318.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after acquiring an additional 3,399,288 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Extreme Networks during the 2nd quarter worth $25,409,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Extreme Networks by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock worth $17,429,000 after acquiring an additional 8,169 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Extreme Networks by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock worth $14,192,000 after acquiring an additional 3,572 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,667,734.88. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Carinalli sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $16.06, for a total value of $80,300.00. Following the transaction, the director now owns 371,793 shares in the company, valued at approximately $5,970,995.58. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,450 shares of company stock worth $1,390,490. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EXTR. B. Riley raised their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a research report on Wednesday, November 6th. Craig Hallum raised their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $17.27 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $18.77. The business has a fifty day simple moving average of $15.52 and a 200 day simple moving average of $14.15. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -17.80, a P/E/G ratio of 3.81 and a beta of 1.76.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.